☕️ Inflation rises again

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Make the most of it. Then your emails have to return to just “hoping this finds you well”.

The quote: "Let's not blow this out of proportion. She was letting off a bit of steam because she was hugely frustrated with her performance."
Former Australian tennis player John Millman speaking to Nine about Coco Gauff, after the American player smashed her racquet following her quarterfinal loss to Elina Svitolina. Gauff went into a tunnel to smash the racquet, which she said was in hopes she wouldn’t be recorded.

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Yesterday’s results: 84% of you haven’t given up on your New Year’s Resolutions [930 votes].

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The inflation rate has increased to 3.8% for the year to December, according to the latest data from the Australian Bureau of Statistics (ABS).

This is up from the 3.4% inflation rate recorded in November.

Inflation is a measure of the change in the price of goods and services over time.

The news comes less than a week before the Reserve Bank of Australia’s next meeting for the cash rate.

Here’s what you need to know.

The ABS said electricity and holiday travel were two of the main contributors to the increase.

There was a 21.5% increase in electricity costs. This was mainly due to power bill rebates in effect last year in some states that have since expired.

Domestic travel and accommodation rose by about 8% with Christmas and the summer holidays, while international travel rose by around 24%.

The trimmed mean is often seen as a more accurate picture of how inflation is tracking. This is because it excludes volatile prices, such as petrol, to better understand longer-term changes in prices.

The trimmed mean for December was 3.3%, up from the 3.2% in November.

The trimmed mean is partly what the Reserve Bank of Australia (RBA) looks at to determine the cash rate.

Its target range for the trimmed mean is 2-3%, meaning the latest data of 3.2% is too high.

The news of the latest inflation figure comes less than a week before the RBA next meets to decide the cash rate.

The cash rate is what the RBA charges banks for short-term loans.

Changes in the cash rate are usually referred to as changes to interest rates, because the cash rate affects interest rates across the economy, including home loans.

The RBA uses the cash rate as a tool to fight rising inflation. If it deems inflation too high, it can increase the cash rate to try to limit spending.

Economists have said this higher inflation rate could contribute to a decision to increase the cash rate next week.

The higher the interest rate, the more expensive it is to borrow money (meaning mortgages can become more expensive).

🎧 On today’s TDA podcast, Sam and Billi explain why the Aussie dollar has recently strengthened against the U.S. dollar.

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Police have charged a man who threw an “improvised explosive device” into a crowd at an Invasion Day Rally in Perth, Western Australia, on Monday.

Today, WA Police said they are seeking public assistance in investigating the incident.

Kacey Teerman, Indigenous Rights Campaigner at Amnesty International Australia, has called it “a deliberate attack on First Nations people”.

On Monday, an Invasion Day Rally was held in the Perth CBD. Police say about 2,500 people were in attendance.

Police allege that a man removed an item from his bag and threw it into the crowd, before fleeing the scene, just after midday.

Police were alerted to the device and dispersed the crowd.

The man was taken into custody and has since been charged.

Police confirmed it was a “homemade improvised explosive device containing a mixture of volatile and potentially explosive chemicals, with nails and metal ball bearings affixed to the exterior”.

The device failed to detonate.

The 31-year-old man has now been charged with making or possessing explosives under suspicious circumstances, as well as an unlawful act with intent to harm.

Kacey Teerman, Indigenous Rights Campaigner at Amnesty International Australia, said: “This rally was attended by thousands, including Elders, children, and babies.

“It is a miracle the device didn’t explode. This was a deliberate attack on First Nations people, designed to cause maximum harm and fear, it comes amid rising racist and hate-fuelled attacks.”

One of the rally organisers, Fabian Yarran, has said: “This incident must be fully investigated as an act of terrorism and a hate crime against First Nations people and protesters, and appropriately charged as such.”

Police have not labelled the incident terrorism.

Western Australia's Police Commissioner Col Blanch told media on Tuesday: “To be an act of terrorism it requires one of three things: either political motivation, a religious motivation, or some type of ideology and advancing that cause.

"So at this stage it's a hostile act, and we are investigating whether or not those motivations existed to prove terrorism charges."

WA Premier Roger Cook said: “That a peaceful protest was targeted in this fashion runs against the very heart of what it means to be Australian... We can’t let hate win.“

On Tuesday, Prime Minister Anthony Albanese added: “This was an incident that is quite shocking. He's been charged with two serious offences and I look forward to him being prosecuted to the full force of the law.”

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Days after being named Oscar nominees, both Rose Byrne and Jacob Elordi have been nominated for BAFTAs – Britain’s most prestigious film award. Byrne has been recognised for her performance in ‘If I had legs I’d kick you’ (which she also won a Golden Globe for this month). Elordi is nominated for Frankenstein. Aussie production designer Fiona Crombie is also nominated for both an Oscar and BAFTA for her work on ‘Hamnet’. The BAFTAs ​ceremony will be held in London on 22 February.

Reporting by Emma Gillespie.

U.S. immigration agency ICE deported a man accused of helping pull off a $US100 million ($AU142 million) jewellery heist before prosecutors could charge him.

The suspect, Jason Nelon Presilla Flores, had already been indicted alongside six alleged accomplices and had pleaded not guilty. The case stalled after he was detained by ICE without prosecutors knowing, and he later chose to be deported at an immigration hearing in December.

The decision will likely see him avoid prosecution.

Reporting by Pavitra Ravi.